Latest in Tag: Colliers Highlight
Latest in Tag: Colliers
Hotels in Sharm El-Sheikh, Hurghada to see y-o-y hike in occupancy rates of 43%, 51%, respectively
Several markets are building on recovery that began in Q4 2020
The report said that hotel supply in 2020 will stand at 86,300 hotel keys, but will increase in 2021 to reach 90,500 keys.
Hurghada, Sharm El-Sheikh will witness y-o-y hike in occupancy rates of 57% and 50%, respectively
Colliers forecasts Hurghada, Sharm El-Sheikh will witness y-o-y 57% and 50% hike in occupancy rates, respectively
Additional 8,000 keys are expected to open in Egyptian market by full year 2022, says Colliers hotel review
Colliers International has conducted a comprehensive research in Cairo regarding which factors determine price premium. The results for a well-designed mixed-use project could range from a premium of 25% to 45%.
Incorporating open spaces in post-pandemic world adds to aesthetic appeal and will be capitalised into increased house prices, occupancy
Branded hotel keys is projected to increase to 83,100 in FY 2020
Such facilities would also serve permanent catchment population to improve profitability
Survey contributors are leading players across the major cities in Saudi Arabia including Madinah, Riyadh, Jeddah, King Abdullah Economic City, and Mecca.
Cairo, Sharm El-Sheikh hotels to record occupancy rate increases of 46% and 41%, respectively, says Colliers International
Colliers’ MENA Hotels Quarterly Review report, released in 7 May, indicated that 79% of hotel owners have decided to partially or fully close their hotels due to low occupancy rates.
The appointment is effective from 3 May, following Davis’ retirement after more than 20 years of service at the real estate services and investment management company.
This came as governments continue to introduce measures to slow the spread of the virus, with hotel owners also taking precautions as travel comes to a halt.
Of the respondents, Colliers International identified 65% as owning existing hotels.
Due to the ever-growing risk of contracting the virus, Regus said it had witnessed companies splitting teams amongst multiple centres to avoid daily interaction.
Egypt currently has a small number of Branded residence schemes with further developments in the pipeline according to Colliers
Saudi hospitality market is progressing, experiencing demographic shift
UAE markets to achieve stable performance levels in 2020, says MENA Hotel Forecast
UAE markets to achieve stable performance levels, Saudi to benefit from tourist visa changes in 2020
Supply in major Egyptian markets has grown at annual average of 3%, says Colliers
Cairo, Alexandria to achieve occupancy rates of 80%, 83%, respectively this year
It also forecasted that the four cities will achieve occupancy rates of 84% in Alexandria, 79% in Cairo, 68% in Hurghada, and 63% in Sharm El-Sheikh in 2019.
Alexandria experiencing highest y-o-y improvement in 1H2019
It also forecasted that Cairo, Sharm El-Sheikh, Hurghada, and Alexandria will achieve occupancy rates of 79%, 64%,69%, and 84% respectively in 2019.
Egyptian markets, such as Cairo, Hurghada, Sharm El-Sheikh, and Alexandria, continue to experience strong growth in performance levels, according to the Colliers’ MENA hotel full-year forecast 2019 report. “In the first quarter (Q1) of 2019, these markets saw an average Revenue Per Available Room (RevPAR) growth of 34% compared to the same period last year. …
Four cities witnessed RevPAR growth of 39% in first two months of current year
Hurghada, Alexandria to see 9% improvement in ADR in FY 2019 over 2018
Hotel occupancy in Sharm El-Sheikh and Hurghada continues to grow in light of the positive movement witnessed in the tourism sector during the last period. The two Red Sea resort cities are expected to witness 17% and 12% growth in revenues per available rooms (RevPAR) respectively, Colliers International said in its latest MENA Hotels Forecast …